Innovator Founder Visa Endorsement Guide 2023
The goal of this article is to provide valuable information about the Innovator Founder Visa Endorsement program, requirements, and cost.
The Innovator Founder Visa Endorsement is a process by which an individual with an innovative, viable and scalable business idea can obtain a visa endorsement to start and grow their business in the UK. This visa program is designed to attract talented entrepreneurs from outside the UK.
Eligibility for innovator founder visa endorsement
To qualify for the Innovator Founder Visa Endorsement, applicants must first secure an endorsement from an endorsing body that is approved by the UK government. The endorsing body will assess the applicant’s business proposal and determine if it meets the eligibility criteria. These criteria include:
- Innovative, viable, and scalable business idea: The business idea must have the potential for growth and innovation.
- Entrepreneurial skills and experience: The applicant must demonstrate that they have the necessary skills, expertise, and experience to successfully execute the business plan.
- Financial capacity: The applicant must show that they have sufficient funds to support themselves and their business in the UK.
What happens after endorsement?
Once an endorsement is obtained, the applicant can then proceed with the visa application process. The visa allows individuals to stay in the UK for up to three years, with the option to extend for an additional three years. After five years of continuous residence in the UK, applicants may be eligible to apply for settlement (also known as Indefinite Leave to Remain) or, after three years, if they meet certain criteria under the Accelerated Settlement route.
Cost to apply for innovator founder visa endorsement
The cost to apply for the endorsement of innovator visa varies from £1000 to £2000. Please see the below cost from one of the endorsing body:
- £1000 + VAT (if vat applicable) for the initial assessment
- £1000 + VAT (if vat applicable) paid for 12 months after receipt of your visa (to cover monitoring meetings after 12 to 24 months)
- £1000 + VAT (if vat applicable) final assessment fee should you choose to apply for ILR or if you will require another (same) innovator visa.
Our immigration lawyers can assist you and deal with you during the process of obtaining the endorsement on your behalf.
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